Trader's Comment: Palm oil futures edged lower despite good export numbers.

Palm oil futures edged lower despite good export numbers. Sentiment was uncertain today as the results of the export data released by both private cargo surveyors were within market expectation and now players were waiting for other new clues. Both ITS & SGS had posted an increase of 9.9% and 10.3% respectively on the 1-25 July export data. Benchmark Oct09 had been hovering in a tight range of 2085-2101 through out most of the sessions. It surged to intra day high of 2116 in the second session but later retreated back into the earlier range due to lack of follow through buying activities. It finally settled RM24 lower at 2098. Daily volume reduced significantly with merely 9,944 contracts changed hands.

Trader's Highlight

DJI-NEW YORK, July 27 (Reuters) - U.S. stocks rose slightly on Monday in a late rally as investors rotated into financial shares, which had lagged in the recent two-week run-up.

The Dow Jones U.S. home construction index <.DJUSHB> shot up 4.3 percent after data showed U.S. new home sales posted their biggest monthly gain in eight years in June, suggesting the housing market may be starting to recover from its worst slump since the Great Depression of the 1930s.

The Dow Jones industrial average <.DJI> rose 15.27 points, or 0.17 percent, to close at 9,108.51. The Standard & Poor's 500 Index <.SPX> gained 2.92 points, or 0.30 percent, to 982.18. The Nasdaq Composite Index <.IXIC> added 1.93 points, or 0.10 percent, to end at 1,967.89.

NYMEX-NEW YORK, July 27 (Reuters) - U.S. crude oil futures ended higher on Monday as robust home sales spurred fresh hopes for improved oil demand, and that outweighed earnings uncertainties that kept Wall Street see-sawing all day.

The U.S. dollar fell to more than a seven-week low against the euro and global equities were stronger, both contributing support to oil futures.

The forecast in a Reuters poll of analysts ahead of weekly inventory data due in the next two days showed expectations for a small drawdown in crude and gasoline stocks and an increase in distillates supplies, which include heating oil and diesel fuel.

On the New York Mercantile Exchange, September crude settled up 33 cents, or 0.48 percent, at $68.38 a barrel, the highest settlement since July 1's $69.31. It traded from $67.60 to $68.99, the highest since July 2's intraday high of $69.74.

CBOT-SOYBEANS - August up 1/4 cent per bushel at $10.21-1/4. New-crop November closed down 8-1/2 at $9.06-1/2.

Tight U.S. soy stocks and short-covering underpinned spot August. New-crop months pressured by good U.S. crop weather as August nears. Next month is the key yield determining growth phase for soybeans as the crop sets and fills pods in August.

China will hold second soybean auction July 29.

CBOT-SOYOIL - August down 0.29 cent at 33.60 cents per lb. Following weakness in Asian veg oil markets and mostly lower soybean futures.

FCPO-JAKARTA, July 27 (Reuters) - Malaysian crude palm oil futures ended lower on Monday, pressured by concerns that a seasonal rise in production could outpace increased demand linked to upcoming Asian festivals and due to a stronger ringgit currency.

The benchmark October contract on the Bursa Malaysia's Derivatives Exchange ended down 24 ringgit, or 1.13 percent, to 2,098 ringgit a tonne. Overall volume was 9,944 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, July 27 (Reuters) - Southeast Asian stock markets rose on Monday, with Singapore climbing to a 10-month high and Indonesia surging to near a one-year high, with big-caps such as DBS and Telkom Indonesia leading the way.

Singapore's index <.FTSTI> rose 1.7 percent, with lender DBS Group adding 3.2 percent, while Indonesia's index <.JKSE> gained 1.1 percent, with telecommunications firm Telekomunikasi Indonesia adding 2.9 percent.

Malaysia's index <.KLSE> eked out a small gain of 0.05 percent, led by a 6.6 percent rise in PPB Group and a 3.2 percent gain in Genting while palm plantation firm IOI Corp was 1.7 percent lower. The Vietnamese index <.VNI> added 3.3 percent while the Philippine index <.PSI> was up 2.1 percent

DJI Daily: 9000 mark defended

Market looks defended well at 9000 mark and looks may continue to move sideways to higher in near term. Upside resistance is stood at 9600-9700. While, immediate downside support is pegged at 8800.

KLSE Daily: in Consolidation phase

Market is entering to a consolidation phase after the recent sharp rebound. Resistance and support are stood at 1165-1160 and 1145-1140 level respectively.

FKLI Daily: Holding well

Market was holding well its upward momentum. As for now, immediate upside resistance its at 1166 followed by 1200. While, downside support is pegged at 1150-1145.

FCPO Daily: Directionless

Market remains directionless as prices moving in tight range. As for now, we are looking for the upside resistance at 2135 followed by 2160-2180. To the downside, support is pegged at 2060-2050 followed by 2020-2000.